Cutterhead Shaft Bearing as Good as New After 10 Years of Dredging
After 10 years and more than 100,000 operating hours dredging up silt, sand, rocks and stones in some of the toughest marine environments imaginable, the Thordon Composite bearing installed on the Al Mirfa’s dredge cutter head shaft has emerged unscathed. In drydock where the NMDC-owned dredger is being upgraded, Thordon Bearings’ Dubai-based distributor, Ocean Power International, expected that even the ‘unbreakable’ might need replacing after such demanding workloads, but it didn’t.
Golden Ocean CEO Takes Comfort in Dry Bulk Order Book at 15-year Low
** CEO: I think the most important factor (for an improved market) is a limit of new orders.
Baltic Index Snaps 9-day Winning Streak on Weaker Capesize Rates
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, tumbled on Tuesday, snapping a nine-session winning streak, as capesize vessel rates dropped.
Great Lakes Shipping Season Kicks Off
The 2017 Great Lakes shipping season begins today when the U.S.-flag tug/barge unit Dorothy Ann/Pathfinder departs her winter lay-up berth in Erie, Pa., and sails to Cleveland, Ohio, where she will initiate the shuttle of iron ore from Cleveland Bulk Terminal to the ArcelorMittal steel mill at the end of the navigable portion of the Cuyahoga River on Wednesday. The vessel will load approximately 15,000 tons that was mined from Minnesota’s Mesabi Iron Range.
Frontline says DHT Holdings Rejects Improved Offer
Tanker firm Frontline said on Tuesday it had made a higher and final offer for rival DHT Holdings which was rejected. Frontline said it had raised its all-share…
Hapag-Lloyd 2016 Profit Dips on Weaker Box Rates
FY operating profit down 66 pct and freight rates down 15.4 percent in 2016. Company says merger benefits, cost cuts help. German container shipping firm Hapag-Lloyd on Tuesday reported a 66 percent year-on-year fall in operating profit for 2016, blaming mainly significantly lower freight rates. Operating profit came to 126 million euros ($133.5 million), while earnings before interest, tax, depreciation and amortisation (EBITDA) were down 27 percent at 607 million, it said in a statement.
Shell LNG Tanker Damaged in Collision off UAE
The Al Khattiya liquefied natural gas (LNG) tanker, one of the world's largest, suffered damage to its hull in a collision with an oil tanker off the United Arab Emirates last week…
HII Graduates 184 Shipbuilders from Apprentice School
Huntington Ingalls Industries (HII) hosted commencement exercises on Saturday for 184 graduates of the company’s Apprentice School located at Newport News Shipbuilding. The ceremony was held at Liberty Baptist Church Worship Center in Hampton. Rear Adm. Mat Winter, the U.S. Navy’s deputy program executive officer for the F-35 Lightning II, reminded the company’s newest shipbuilders during his commencement address that everything they have achieved and will continue to achieve makes a difference.
DryShips declares first dividend under new policy
DryShips announced that its Board of Directors has decided to initiate a new dividend policy. Under this policy, the Company will pay a regular fixed quarterly dividend…
Gloria reachstackers for Messina Group
Kalmar, part of Cargotec, has delivered nine Kalmar Gloria reachstackers to the Italian ro-ro and container shipping line Messina Group. The order includes a Kalmar Complete Care maintenance contract, which brings several advantages, such as financial predictability, operational excellence and the option to upgrade equipment after a fixed period. It was booked in Cargotec's 2016 third-quarter order intake, with delivery taking place in January 2017.
Oakland Port to See Cranes Going Higher
Up to six 366-foot-tall cranes will soon be raised 27-feet higher at the Port of Oakland. The port said the $14 million-to-$21 million project will begin this spring at its largest marine terminal. The objective: make it easier to load and unload megaships with containers stacked high above deck. “We’re already working the largest ships to call in North America,” said Port of Oakland Maritime Director John Driscoll.
Portland Port, ICTSI to terminate Lease
ICTSI Oregon, Inc. and the Port of Portland have mutually agreed to terminate a 25-year lease agreement to operate the container facility at the Port’s Terminal 6.
Butzelaar takes over from Whitworth as CEO, Seaspan
On behalf of its Board of Directors, Seaspan ULC (Seaspan) announced today that long-serving Chief Executive Officer (CEO) Jonathan Whitworth, will be retiring at the end of 2017. Jonathan announced to the Board in 2016 his timeline to retirement. A search for his successor immediately commenced and Seaspan is also pleased to announce that Frank Butzelaar, President and CEO of a related company, Southern Rail Link (SRY)…
East Coast Gateway Terminal Agreement in the offing
The Georgia Ports Authority and the Virginia Port Authority filed on Friday, Feb. The agreement encourages voluntary cooperation in the areas of operational and supply chain efficiencies…
Mexico’s APM Terminals Open for Business
APM Terminals Lazaro Cardenas, Mexico’s largest semi-automated terminal, received its first official vessel call today with the arrival of the 9,600 TEU capacity Maersk Salalah on the AC2 Transpacific service from Asia. “This is a milestone as we add an additional operational terminal to our portfolio. A priority for us is to transition terminals under implementation into operation, and make them as efficient as possible to support our customers.” said Morten H. Engelstoft, CEO of APM Terminals.
Socio-Economic Impact of EU Shipping Industry Remains Solid
Adding supply chain and worker spending multiplier impacts, the shipping industry’s total employment contribution rises to 2.1 million people and its total GDP contribution is estimated to have been € 140 billion in 2015. These are the key findings of the latest update on the economic value of the EU shipping industry which ECSA commissioned from Oxford Economics. The report further indicates that…
ABS Takes Offshore Safety to New Depths
ABS, the leading provider of classification and technical services to the offshore industry, has expanded its subsea services team to deliver specialized validation and verification services for subsea systems, including subsea hardware, flowlines, umbilicals, and risers. These services include design review, inspection of physical components and regulatory services using performance data to support continuous service of new and existing assets.
Indian Navy Concludes Tropex 2017
The Indian Navy’s Annual Theatre Level Readiness and Operational Exercise (TROPEX 17) was conducted on the Western Seaboard from 24 Jan 17 till 23 Feb 17. The month long exercise saw participation of over 45 ships from both the Western and Eastern Naval Commands of the Indian Navy, including the aircraft carrier INS Vikramaditya, 05 submarines including the nuclear powered Chakra, 50 Naval aircraft…
MOL Group Posts Almost USD 1 Billion Profit in 2016
MOL Group significantly outperformed its initial USD 2bn target for 2016 and delivered a clean EBITDA of USD 2.15bn, which is only moderately down compared with the previous year. Upstream has shown great resilience to the deteriorating external environment. A further 17% decline in Brent prices and a 23% decline in realized gas prices were offset by higher production and cost discipline. As a result…
HMAS Canberra Sees the Eye of the Tiger
HMAS Canberra has achieved another aviation milestone embarking two Army Tiger Armed Reconnaissance Helicopters for the first time. The two Tigers, will join two MRH-90 Taipan medium lift helicopters and one MH-60R Seahawk conducting first of class flight trials onboard the amphibious giant over the next six weeks. The trials are designed to find the safe operating limits of the helicopters during a variety of weather conditions, according to Lieutenant Grant Thaler, who will oversee the trials.